EFCC partners INTERPOL to hunt CBEX operators after ₦1.3bn scam

The Economic and Financial Crimes Commission (EFCC) has confirmed it is working with INTERPOL to trace the operators behind the collapsed digital trading platform CBEX, which allegedly vanished with over ₦1.3 billion in investor funds. In a statement on Tuesday, EFCC spokesperson Adele Oyewale revealed that investigations into CBEX’s operations began even before the platform’s sudden crash. “We are actively working to handle the CBEX situation. We will collaborate with other regulatory agencies to ensure that Nigerians are protected from this kind of scheme,” Oyewale said. The platform’s crash has sparked widespread outrage, with many Nigerians taking to social media to lament their losses. READ ALSO: 5 facts about CBEX digital trading platform Some citizens have also stormed CBEX’s abandoned Lagos office, reportedly looting its properties. Oyewale emphasised that both local and foreign perpetrators are being pursued, noting that the EFCC’s efforts include international collaboration. “We are on the local collaborators while we are partnering with INTERPOL to trace the foreign operators. “Where recovery is possible, we will recover; where prosecution is possible, we will prosecute,” he added READ ALSO: What is CBEX and has it crashed indefinitely? He also warned Nigerians against investing in financial platforms without conducting due diligence, urging them to consult regulatory bodies like the Central Bank of Nigeria and the Securities and Exchange Commission before committing funds. “There are similar frauds across the country that people are unaware of, and we are working to uncover them,” he said. The EFCC has not yet released details of arrests or asset recoveries as investigations continue.